Titan Cement’s US Unit Files for IPO, Disclosing Growing Profit

Titan America SA, the US unit of Titan Cement International SA, has filed for an initial public offering in New York, showing net income growth of 18%.

The European parent is offering new shares in the IPO and its controlling families are offering existing shares, according to a filing with the US Securities and Exchange Commission on Monday. Proposed terms for the listing will be disclosed in a later filing, when the underwriters are set to begin marketing the shares.

The unit had $129.5 million in net income on $1.24 billion of revenue for the nine months ended ...